Hurricane Sandy: SBA Approves $150 Million in Disaster Loans

A month after Hurricane Sandy’s devastation, the SBA said it has approved more than $150 million in disaster loans to nearly 2,500 homeowners, renters and businesses in New York, New Jersey, Connecticut and Rhode Island.

Through Thursday, the precise total was $156.56 million to 2,507 residents and businesses, the SBA said.

The agency said it has 377 employees working to assist Hurricane Sandy survivors in 113 disaster recovery and business recovery centers in New York, New Jersey, Connecticut and Rhode Island.

Meanwhile, SBA Small Business Development Centers are also available to help business owners complete loan applications, and give advice on how to rebuild and grow in the aftermath of the disaster, according to the SBA.

There are several ways persons impacted by the storm can apply for the SBA’s disaster loans including applying online or receiving an application by mail.

The SBA said the filing deadline for physical property damage is Dec. 31 for New York, New Jersey and Connecticut.

“During the past month I’ve visited disaster centers and spoken with people who are struggling to reclaim communities and businesses that were devastated by Hurricane Sandy, and I was impressed by their determination to rebuild stronger,” said SBA Administrator Karen Mills.